295: INDIA: "RUNNING AWAY LIKE CHILDREN FROM THE LAW".

295

INDIA:

“RUNNING AWAY LIKE CHILDREN FROM THE LAW”

          An economic offences court at Hyderabad issued summonses to Mr. Ramalinga Raju, the founder of Satyam Computer Services, to appear before it on November 13.

          The Securities and Exchange Board of India (SEBI) had filed two complaints against him for insider trading. The offences carry punishments up to 10 years. The media reported this on 13 October 2013. Earlier, it had imposed a fine of over Re. 3000 crore.

          The manipulators have been defrauding the nation.

          The Public Sector Undertakings (PSUs) were sold against public money. Many were sold in violation of the norms devised for privatization.

Mr. Raju noticed that all defrauders are happy. Therefore, he also joined their rank. But some among them were longing for his Satyam.

          At one time, he could not remove money from the stock market as expected. The banks and the financial institutions refused to lend him.

          The government could have helped him by giving one or two projects. But it did not do so.

          All his frantic efforts to mobilize money failed.

          Instead of describing everyone as fraud, he called himself a fraud.         

          It was sufficient for the competent authorities to fall on him. All his companies were confiscated and sold. Moreover, he was jailed.

          This is the conclusion of a man sitting away from the scene of action.

His software company – Satyam Computer Services- had over 50,000 employees.

Had he been a citizen of any other country, he might not have committed such a crime. At the same time, the people would have worshiped him.

When all bigger defrauders “run away like children from the law” why Mr. Raju alone should be fined and summoned again and again?

Is it not a violation of human rights?

Either punish all defrauders or protect everyone.

If Satyam is restored to him based on the ‘each one; take one principle’, it would give a lot of confidence to all businessmen.

Now, some companies simply annihilate other big industries.

For instance, a few companies are specializing in construction. Now an automobile company has entered this field. Naturally, the latter might defeat the former due to its connections. These are disturbing developments.

The construction companies shall not enter the automobile sector and vice versa.

At the same time, both shall not enter the communication sector.

Then every child would get a share in the public money.

Notwithstanding everything, if a company does not use public resources, it is free to do anything. Such companies may be treated as family run companies.

This is letter No. 295.

This letter is being submitted to His Excellency the President of India, Prime Minister of India, Supreme Court of India, Chief Vigilance Commissioner, Indian Army and the Indian Air Force, and posted in the blog: www.howeverythinghappenedinindia.blogspot.com on 16 October 2014.

16-10-2014.

V. Sabarimuthu

26-3 Thattamkonam, Vellicode

Mulagumoodu PIN:629167, India